VOLT RESOURCES LIMITED — Capital/Financing Update 2014

Mar 16, 2014

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ASX ANNOUNCEMENT

17 March 2014

By e-lodgement

PLACEMENT TO RAISE $500,000

• Placement well supported and closed oversubscribed

• 50m shares to be issued at 1.0c per share (with 25m free attaching 2c options)

• Funds to be used in priority exploration campaign and general working capital

Mozambi Coal Limited (ASX: MOZ, Mozambi or Company ) advises that it has arranged the placement ( Placement ) of up to 50 million new fully paid ordinary shares at 1.0c per share to sophisticated investors to raise up to $500,000 before costs. The Placement was well supported and closed, oversubscribed, on Friday 14 March. Participants in the Placement will also receive one free attaching 2c option expiring 31 December 2017 for each share issued.

Funds raised from the Placement will be used for priority exploration activities and general working capital.

The placement will occur in two tranches. Tranche 1, comprising approximately 22 million shares (and 11 million options) does not require shareholder approval and will be conducted using the Company’s existing placement capacity under Listing Rules 7.1 / 7.1A. Tranche 2, comprising of 28 million shares (and 14 million options) will be subject to approval by shareholders at a meeting to be convened in the near future.

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Mozambi Coal Limited ACN 106 353 253 Level 1, 44 Ord Street, West Perth, Western Australia 6005 Tel: (+618) 9321 0774 Fax: (+618) 6314 1557